While of historic interest only as BIN was delisted and SH paid out by MIRA, this will be in the print edition of 'The Australian' tomorrow:Waste company Bingo Industries pleads guilty to criminal cartel offences
Bingo’s former managing director and CEO Daniel Tartak has also been charged with two criminal cartel offences
Waste company Bingo Industries has pleaded guilty to criminal cartel offences relating to price fixing for demolition waste services in Sydney.
Bingo was charged with these offences on Tuesday after an investigation by the ACCC and referral to the Commonwealth Director of Public Prosecutions (CDPP).
It is alleged that in mid-2019, Bingo agreed with its competitors Aussie Skips Bin Services and Aussie Skips Recycling to fix and increase prices for the supply of skip bins and the provision of waste processing services for building and demolition waste in Sydney.
Bingo’s former managing director and CEO Daniel Tartak has also been charged with two criminal cartel offences.
The charges relate to alleged breaches of the cartel provisions of the Competition and Consumer Act and will be heard by the Federal Court.
“When companies arrange to fix prices, they usually do so to increase their profits, and it is consumers that pay the increased cost,” ACCC Chair Gina Cass-Gottlieb says.
“We are committed to detecting and investigating serious cartel allegations and taking appropriate action against those who are a party to illegal cartel behaviour, including referral of matters to the CDPP.”
Ms Cass-Gottlieb says cartel conduct not only frequently impacts consumers, but it can also significantly harm competing businesses and the economy more broadly.
“Trying to detect cartels early and working with whistleblowers is an essential component of our work,” she says.
The matter will be listed for case management hearing in the Federal Court at a later stage.
Bingo Industries was listed on the ASX until last year.
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